Key Energy Services Trading Down 2.7% After Analyst Downgrade (KEG)
Key Energy Services (NYSE:KEG) shares dropped 2.7% during mid-day trading on Monday after Imperial Capital lowered their price target on the stock from $7.50 to $7.00, Analyst Ratings News reports. Imperial Capital currently has an in-line rating on the stock. Key Energy Services traded as low as $6.12 and last traded at $6.12, with a volume of 1,226,618 shares. The stock had previously closed at $6.29.
Other equities research analysts have also recently issued reports about the stock. Analysts at Howard Weil cut their price target on shares of Key Energy Services from $9.00 to $8.00 in a research note on Friday. Separately, analysts at Zacks downgraded shares of Key Energy Services from a “neutral” rating to an “underperform” rating in a research note on Thursday. They now have a $5.90 price target on the stock. Finally, analysts at Wunderlich reiterated a “hold” rating on shares of Key Energy Services in a research note on Wednesday, July 23rd. They now have a $7.00 price target on the stock, down previously from $9.00. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.90.
The stock’s 50-day moving average is $7.75 and its 200-day moving average is $8.37. The company’s market cap is $935.0 million.
Key Energy Services, Inc (NYSE:KEG) is an onshore, rig-based well servicing contractor.
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